2023-11-07T11:03:59-06:00 2022-12-31 410244008 FAEGRE DRINKER BIDDLE REATH LLP ONE LOGAN SQUARE PHILADELPHIA PA 19103 990 2022-01-01 236972599 THE GEORGIA FARM FOUNDATION GEOR CO LRW FDBR 1 LOGAN SQ STE 2000 PHILADELPHIA PA 191036996 WILLIAM C BULLITT TRUSTEE 2023-11-07 1 WILLIAM BULLITT 999009999 0 LARISSA R WHITMAN ESQ P01381875 2159882700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID ARSCOTT C/O LRW FDBR 1 LOGAN SQ STE 2000 PHILADELPHIA PA 191036996 1082207 0 X N/A X 1989 PA SUPPORT NATURAL LANDS TRUST'S OPERATION OF ENVIROMENTAL FACILITY 7 6 0 0 0 0 0 0 0 0 451531 102253 0 0 451531 102253 73556 232303 0 0 0 0 0 0 0 38096 31184 111652 263487 339879 -161234 4035822 3874346 -484 -726 4036306 3875072 SEE MISSION STATEMENT ON SCHEDULE O - SUPPLEMENTAL INFORMATION TO FORM 990 0 0 232303 232303 PAYMENT TO NATURAL LANDS TRUST INC. FOR EXPENSES IN OPERATING "GEORGIA FARM", A 340 ACRE SELF CONTAINED WATERSHED ON WHICH THE STROUD WATER RESEARCH CENTER CONDUCTS LONG-TERM RESEARCH PROJECTS. 232303 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 PA X FAEGRE DRINKER BIDDLE & REATH LLP ATTN LRW 2159882700 ONE LOGAN SQ SUITE 2000 PHILADELPHIA PA 19103 DR BERNARD W SWEENEY TRUSTEE; DIR & DIST RES S 0.00 X X 0 0 0 DAVID ARSCOTT PRESIDENT & EXEC DIR, STRO 1.00 40.00 X X 0 177650 40486 MOLLY K MORRISON TRUSTEE & RETIRED PRES OF 0.00 X 0 0 0 MORRIS STROUD TRUSTEE 0.00 X 0 0 0 SAMUEL WAGNER TRUSTEE 0.00 X 0 0 0 WILLIAM C BULLITT ESQ TRUSTEE 0.00 X 0 0 0 FRANCES M ABBOTT TRUSTEE 0.00 X 0 0 0 0 177650 40486 0 0 1 0 0 104711 104711 977496 979954 -2458 -2458 -2458 102253 0 0 102253 232303 232303 INVESTMENT MANAGEMENT F 27963 27963 AGENCY FEES 1655 1655 FOREIGN TAX WITHHELD 1566 1566 263487 232303 31184 0 15217 122882 4020605 3751464 4035822 3874346 -484 -726 -484 -726 X 1554931 1554931 0 0 2481375 2320141 4036306 3875072 4035822 3874346 -161234 0 X 0 0 0 X X 2 NATURAL LANDS TRUST INC 236272818 10 1 232303 0 STROUD WATER RESEARCH CENTER 522081073 10 1 0 0 2 232303 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 SCHEDULE A, PAGE 5, SECTION D, LINE 3 SEE EXPLANATION BELOW SCHEDULE A, PAGE 5, SECTION E, LINE 2A SEE EXPLANATION BELOW SCHEDULE A, PAGE 5, SECTION E, LINE 2B THE GEORGIA FARM FOUNDATION (THE "FOUNDATION") WAS ESTABLISHED IN ORDER TO PROVIDE THE FINANCIAL UNDERPINNING FOR THE OPERATION AND MAINTENANCE OF A 340-ACRE FARM (THE "FARM") WITHIN THE BOUNDS OF WHICH ARE THREE CONTROLLED WATERSHEDS ON WHICH THE STROUD WATER RESEARCH CENTER ("STROUD") CONDUCTS LONG-TERM SCIENTIFIC STUDIES OF THE EFFECTS OF VARIOUS FARMING AND OTHER LAND-USE ACTIVITIES ON THE HEALTH AND QUALITY OF FRESH WATER. THE FARM IS OWNED BY THE NATURAL LANDS TRUST ("NLT"). ITS USE IS RESTRICTED BY A PERPETUAL CONSERVATION EASEMENT HELD BY THE BRANDYWINE CONSERVANCY. IN ADDITION, NLT AND STROUD ARE PARTIES TO A RESEARCH AGREEMENT ALLOWING STROUD TO CONTROL THE USE OF THE WATERSHEDS IN CONNECTION WITH THE LONG-TERM SCIENTIFIC STUDIES CONDUCTED BY STROUD. ACCORDINGLY, THE FOUNDATION'S FUNDS NOT ONLY BENEFIT NLT DIRECTLY, BUT ALSO BENEFIT STROUD. IF NLT EVER BREACHES THE RESEARCH AGREEMENT, THE FOUNDATION'S SUPPORT IS REQUIRED TO BE PAID DIRECTLY TO STROUD. THE FOUNDATION PROVIDES APPROXIMATELY 77% OF THE OPERATING AND CAPITAL FUNDS REQUIRED TO SUPPORT THE MAINTENANCE AND REPAIR OF THE FARM. THE FOUNDATION'S BOARD MEETS ANNUALLY WITH THE PRESIDENT AND STAFF OF NLT TO REVIEW IN DETAIL, AND APPROVE OR MODIFY, THE OPERATING BUDGET, AS WELL AS BOTH SHORT TERM AND LONG TERM CAPITAL PROJECTS FOR THE FARM, DETERMINE THE ADEQUACY OF CAPITAL RESERVES, AND THE LIKE. IN THE COURSE OF THIS REVIEW, THE BOARD IS INFORMED ABOUT THE RESEARCH PROJECTS CONDUCTED BY STROUD OVER THE PAST YEAR AND APPROVE ACTIVITIES FOR THE CURRENT YEAR. THE BOARD ALSO REVIEWS THE INVESTMENT PERFORMANCE OF THE FOUNDATION'S ENDOWMENT AND CONSIDERS WHETHER THE SPENDING POLICY ADOPTED BY THE FOUNDATION'S TRUSTEES SHOULD BE ADJUSTED TO SATISFY THE LONG TERM NEEDS OF NLT AND STROUD. AS REQUIRED BY THE FOUNDATION'S GOVERNING DOCUMENTS, AT LEAST ONE TRUSTEE MUST BE APPOINTED BY NLT AND ONE BY STROUD. THE PRESIDENT OF THE FOUNDATION IS THE PRESIDENT, DIRECTOR & SENIOR RESEARCH SCIENTIST OF STROUD. MOLLY MORRISON, RECENTLY RETIRED PRESIDENT OF NLT, IS THE APPOINTEE OF NLT. SAMUEL WAGNER, PREVIOUSLY APPOINTED BY NLT, CONTINUES AS A BOARD MEMBER. 4038044 84964 232303 31184 3859521 3698165 451531 73556 38096 4038044 3603199 264065 141574 27525 3698165 3688594 152001 202291 35105 3603199 3511783 270991 67328 26852 3688594 0 0 0 ADJUSTMENTS -726 -726 1 NATURAL LANDS TRUST 1031 PALMERS MILL ROAD MEDIA PA 19063 236272818 501(C)3 232303 0 FOR EXPENSES IN OPERATING GEORGIA FARM, A 340 ACRE SELF CONTAINED WATERSHED ON WHICH THE STROUD WATER RESEARCH CENTER CONDUCTS LONG-TERM RESEARCH PROJECTS. THE FOUNDATION'S BOARD REVIEWS AND APPROVES BUDGETS AND RECEIVES REPORTS FROM NATURAL LANDS TRUST STAFF ON ACTUAL EXPENDITURES. 0 0 0 0 0 0 0 0 0 DAVID ARSCOTT PRESIDENT & EXEC DIR, STRO 0 177650 0 0 0 0 0 20323 0 20163 0 218136 0 0 FORM 990, PART VI, SECTION A, LINE 7A THE TRUSTEES ELECT THEIR SUCCESSORS, BUT NATURAL LAND TRUST AND STROUD WATER RESEARCH CENTER EACH NOMINATE AT LEAST ONE. FORM 990, PART VI, SECTION A, LINE 8B NOT APPLICABLE FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY FAEGRE DRINKER BIDDLE & REATH LLP, COUNSEL FOR THE ORGANIZATION. IT IS REVIEWED BEFORE FILING BY LARISSA R. WHITMAN, ESQ. OF THAT FIRM AND SIGNED BY WILLIAM C. BULLITT, A TRUSTEE OF THE FOUNDATION. A COPY IS SENT TO EACH TRUSTEE AFTER FILING. FORM 990, PART VI, SECTION C, LINE 19 A COPY WILL BE PROVIDED TO ANY PERSON WHO ASKS. FORM 990 - PART III AND SCHEDULE A, PART VI THE GEORGIA FARM FOUNDATION (THE "FOUNDATION") WAS ESTABLISHED IN ORDER TO PROVIDE THE FINANCIAL UNDERPINNING FOR THE OPERATION AND MAINTENANCE OF A 340-ACRE FARM (THE "FARM") WITHIN THE BOUNDS OF WHICH ARE THREE CONTROLLED WATERSHEDS ON WHICH THE STROUD WATER RESEARCH CENTER ("STROUD") CONDUCTS LONG-TERM SCIENTIFIC STUDIES OF THE EFFECTS OF VARIOUS FARMING AND OTHER LAND-USE ACTIVITIES ON THE HEALTH AND QUALITY OF FRESH WATER. THE FARM IS OWNED BY THE NATURAL LANDS TRUST ("NLT"). ITS USE IS RESTRICTED BY A PERPETUAL CONSERVATION EASEMENT HELD BY THE BRANDYWINE CONSERVANCY. IN ADDITION, NLT AND STROUD ARE PARTIES TO A RESEARCH AGREEMENT ALLOWING STROUD TO CONTROL THE USE OF THE WATERSHEDS IN CONNECTION WITH THE LONG-TERM SCIENTIFIC STUDIES CONDUCTED BY STROUD. ACCORDINGLY, THE FOUNDATION'S FUNDS NOT ONLY BENEFIT NLT DIRECTLY, BUT ALSO BENEFIT STROUD. IF NLT EVER BREACHES THE RESEARCH AGREEMENT, THE FOUNDATION'S SUPPORT IS REQUIRED TO BE PAID DIRECTLY TO STROUD. THE FOUNDATION PROVIDES APPROXIMATELY 77% OF THE OPERATING AND CAPITAL FUNDS REQUIRED TO SUPPORT THE MAINTENANCE AND REPAIR OF THE FARM. THE FOUNDATION'S BOARD MEETS ANNUALLY WITH THE PRESIDENT AND STAFF OF NLT TO REVIEW IN DETAIL, AND APPROVE OR MODIFY, THE OPERATING BUDGET, AS WELL AS BOTH SHORT TERM AND LONG TERM CAPITAL PROJECTS FOR THE FARM, DETERMINE THE ADEQUACY OF CAPITAL RESERVES, AND THE LIKE. IN THE COURSE OF THIS REVIEW, THE BOARD IS INFORMED ABOUT THE RESEARCH PROJECTS CONDUCTED BY STROUD OVER THE PAST YEAR AND APPROVE ACTIVITIES FOR THE CURRENT YEAR. THE BOARD ALSO REVIEWS THE INVESTMENT PERFORMANCE OF THE FOUNDATION'S ENDOWMENT AND CONSIDERS WHETHER THE SPENDING POLICY ADOPTED BY THE FOUNDATION'S TRUSTEES SHOULD BE ADJUSTED TO SATISFY THE LONG TERM NEEDS OF NLT AND STROUD. AS REQUIRED BY THE FOUNDATION'S GOVERNING DOCUMENTS, AT LEAST ONE TRUSTEE MUST BE APPOINTED BY NLT AND ONE BY STROUD. THE PRESIDENT OF THE FOUNDATION IS THE PRESIDENT, DIRECTOR & SENIOR RESEARCH SCIENTIST OF STROUD. MOLLY MORRISON, RECENTLY RETIRED PRESIDENT OF NLT, IS THE APPOINTEE OF NLT. SAMUEL WAGNER, PREVIOUSLY APPOINTED BY NLT, CONTINUES AS A BOARD MEMBER. NATURAL LANDS TRUST 236272818 CONSERVATION OF LAND PA 501 (C3) PUBLIC N/A 0 STROUD WATER RESEARCH CENTER 522081073 WATER RESEARCH DE 501 (C3) PUBLIC N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NATURAL LANDS TRUST (SEE PART III LINE 4 A) B 232303